Short Interest in Sumitomo Corp. (OTCMKTS:SSUMY) Grows By 91.9%

Sumitomo Corp. (OTCMKTS:SSUMY) was the target of a large growth in short interest in January. As of January 30th, there was short interest totaling 88,734 shares, a growth of 91.9% from the January 15th total of 46,250 shares. Based on an average daily trading volume, of 211,566 shares, the short-interest ratio is presently 0.4 days. Currently, 0.0% of the shares of the company are sold short. Currently, 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 211,566 shares, the short-interest ratio is presently 0.4 days.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of Sumitomo from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Sumitomo has a consensus rating of “Buy”.

Sumitomo Trading Up 0.2%

OTCMKTS SSUMY traded up $0.07 during trading on Friday, hitting $43.72. The company had a trading volume of 27,129 shares, compared to its average volume of 102,854. The company’s fifty day moving average is $37.24 and its 200-day moving average is $32.00. Sumitomo has a one year low of $19.18 and a one year high of $44.15. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.50. The company has a market cap of $52.61 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 1.61 and a beta of 0.47.

Sumitomo (OTCMKTS:SSUMY) last released its quarterly earnings results on Wednesday, February 4th. The conglomerate reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.20). Sumitomo had a return on equity of 11.00% and a net margin of 7.56%.The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.72 billion. On average, sell-side analysts predict that Sumitomo will post 2.82 earnings per share for the current year.

Sumitomo Company Profile

Sumitomo Corporation (OTCMKTS: SSUMY) is a global integrated trading and investment company headquartered in Japan. As one of the country’s major sogo shosha (general trading firms), Sumitomo operates a diversified business portfolio that spans trading, project development, equity investments and provision of services to industrial and consumer markets. The company acts as a commercial intermediary and strategic investor, linking producers, manufacturers and end users across international supply chains.

Sumitomo’s business activities cover a wide range of sectors, including metal products and mining, transportation and construction systems, infrastructure and real estate, energy and chemical products, electronics and digital solutions, and consumer goods and food.